Share Prices & Company Research

Market News

22 Jan 2021 | 10:46

Canaccord Genuity raises target price on Hargreaves Lansdown

(Sharecast News) - Analysts at Canaccord Genuity raised their target price on financial services firm Hargreaves Lansdown from 1,493.0p to 1,695.0p on Friday following the strong market rally into the 2020 calendar year-end. Canaccord said it opted to revisit its assumptions on Hargreaves Lansdown after the FTSE 100 picked up 16% in November and December, resulting in a 10% upgrade to its 2021 earnings per share estimates, 17% to 2022 and 10% upgrade in 2023.

The Canadian broker said strong markets will have helped drive assets under administration higher than its original forecasts and also added that the Covid-19 pandemic, lockdowns and increased market volatility had also been conducive to increased client acquisition.

"We believe this has also resulted in continued, elevated share trading activity," said Canaccord, which also maintained its 'hold' rating on the stock.

"These tailwinds more than compensate for the headwind of reduced interest income, which we have downgraded significantly in FY22 and FY23, owing to the low base rate."
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.